''In this year before Christmas, King Henry sent from Normandy to England and gave instructions that all moneyers be deprived of their members. Bishop Roger of Salisbury commanded them all to assemble at Winchester by Christmas When they came they were taken one by one, and each deprived of the right hand and testicles below. All this was done in 12 days between Christmas and Epiphany, and was entirely justified because they had ruined the whole country by the magnitude of their fraud, which they paid for in full.''

(Quoted from the Laud Chronicle, one of the last of the Anglo-Saxon Chronicles and translated from Middle English.)

“Self-regulation doesn’t protect the public from Wall Street,” he writes. “It protects Wall Street from you.”

I could not agree more............Larry Elford, former CFP, CIM, FCSI, Associate Portfolio Manager, now retired from an industry I cannot any longer associate my name with.

CONTROVERSIAL NEW BOOK

BY S USA N A N T I L L A
Bloomberg News

Thursday, April 27, 2006

Gary Weiss makes a serious mistake in his new book that pillories the brokerage industry: He should have started at page 75.

That’s where Mr. Weiss, a former Business Week reporter and object of anonymous e-mail threats since the book’s publication, bluntly lays out a central theme of Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments.